Vicious Cycle of Price Rise
The recent hike in the prices of essential commodities including petrol, diesel, vegetables, fruits, LPG and others are hurting the common man. Narendra Modi-led NDA government’s decision to hike the rail fares last week had not even settled down when the prices of petrol, diesel, onion, potatoes and sugar hit the common man. Adding to the woes, the price of non-subsidised cooking gas (LPG) was on Tuesday hiked by Rs 16.50 per cylinder and that of jet fuel or aviation turbine fuel (ATF) by over half-a-percent after international oil prices surged due to the ongoing Iraq crisis. The vicious cycle of price rise is likely to go on for some time as the diesel and petrol prices will have a direct bearing on the transportation cost of essential commodities and in turn their prices will soar further.